Hey Guys,
The market has held its gains over the last couple days. Whereas at the start of the week the S&P 500 was around 3750, right now it's around 3880. It's outside of that mini range it had been in and showing some signs of strength, not just in terms of the price of the S&P 500 but also in terms of the price movements of individual stocks.
One sign of that is with our pipeline of stocks for the watch list (our stock scan). For any stock to show up on my scan, it has to reflect a solid recent uptrend. That's a foundational element of my stock trading strategy.
As of last week, that pipeline was pretty barren. But as of right now, that scan is picking up more and more stocks each day. There weren't any new trades yet today, but with the amount of tickers showing up on the scans, it's just a matter of time before we see more trades flowing through.
My options trade for NIO reached its time limit today. For options that reach their time limits, I close them at the end of the trading session, so I'll be closing that one right before 1pm Pacific Time unless it reaches its profit target or stoploss first. That one was in loss territory for part of the day yesterday, but it turned a corner and went way up this morning. Let's see if it holds that profit through the end of the day.
If you have any questions or feedback, I'd love to hear from you.